KPIT Tech shares soar over 9% on smart Q2 earnings

Shares of KPIT Technologies surged over 9 per cent today after the IT company posted smart set of earnings for the quarter ended September 30, 2015.
The stock zoomed 9.32 per cent to settle at Rs 134.85 on BSE. During the day, it soared 17.26 per cent to Rs 144.65.
At NSE, shares of the company rose sharply by 9.13 per cent to Rs 135.05.
The company added Rs 227.64 crore in market valuation to to take it to Rs 2,658.64 crore.
Volume-wise, 12.13 lakh shares of the company changed hands at BSE and over 70 lakh shares were traded at NSE during the day.

"KPIT Tech rallied after the company managed to beat market expectations," said Achin Goel, Head: Wealth Management & Financial Planning, Bonanza Portfolio Ltd.

The company posted a growth of 6.3 per cent in net profit at Rs 75 crore in September, 2015 quarter.
It had reported a net profit of Rs 70.55 crore during the same period a year ago.
Sequentially, net profit jumped almost 69 per cent to Rs 75 crore from Rs 44.41 crore.
Net sales rose 7.11 per cent to Rs 812.25 crore from Rs 758.32 crore on a sequential basis.
The company had announced its earnings after market hours on on Wednesday.

Stock markets were closed yesterday for Dussehra.